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Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
 China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world combined.
Beijing's war on smog has concentrated on the country's steelmaking hubs near the capital where mandated cuts of as much as 50% came into actual effect last month. The Chinese government announced that it would shut about a third, or around 1,000, of the country's iron ore mines which struggle with average grades of only around 20% iron ore content.
Chinese imports of high-quality iron ore fines and lump ore from Australia, Brazil and South Africa topped 100m tonnes for the first time in September, but plunged by 23% last month to 79.5m tonnes as steelmakers work through inventory amid lower production. Total shipments for the first ten months of the year is up 6.3% to 896m tonnes.
Iron ore spot markets rose strongly again yesterday, the price for benchmark iron ore 62% fines, jumped by 1.4% to $63.47 a tonne, adding to the 1.7% gain achieved on Friday last week. As a result of the back-to-back gains, it now sits at the highest level since September 27.
We see strong positive signs that restrictions on steel production in China are now fully in force and are crimping iron ore demand from local mills. Chinese authorities have enforced steel production cuts between mid-November and mid-March 2018 in an attempt to improve air quality in northern Chinese provinces during winter.
In general, there are concerns that against weakening demand from steel mills, the increase in China’s iron ore production might lead to less import appetite, weighing down on seaborne prices to a certain extent.
In any case we have a positive outlook. Capesize rates, which since August have recovered to their strongest levels in three years, are likely to retain their underlying strength until at least the first quarter next year.
Average earnings for Capesize ships, which typically haul around 180,000 tonnes of iron ore, are around $26,350 per day, compared with $8,208 per day last year. Overall iron ore cargo volumes also grew by 4 percent last year compared with 2 percent growth in the capesize fleet in 2016.
Charter rates on key routes such as the Western Australia-China route fell to $7.64 per tonne on Wednesday last week against $8.31 per tonne the week before. Rates hit $8.98 per tonne on Oct. 17, the highest since November 2014.
Freight rates on the route from Brazil to China slipped a bit to $18.25 per tonne on Wednesday, from $18.41 a week earlier. They marked $19.60 per tonne on Sept. 25, still the highest since November 2014. Looking at the big picture there is a strong momentum building up.
By Christopher T. Whitty
Commercial Manager - Cotzias Intermodal Shipping
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
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